Wall Street falls as oil prices surge and chip stocks slide

Published:

Wall Street falls as oil prices surge and chip stocks slide
Photo: Seth Wenig/AP/TT

Oil prices have risen after fresh attacks between the US and Iran around the Persian Gulf. US President Donald Trump has also said that tariffs of 20 percent will be imposed on all shipping through the Strait of Hormuz.

A barrel of North Sea oil had risen by just over 9 percent by 10 p.m. Swedish time and cost around $83.

South Korean chip giant SK Hynix, which is listed on a secondary market in the US, fell 9.3 percent. The stock had previously plunged 15 percent on the Seoul Stock Exchange.

Other chip companies also plunged in New York. For example, Micron fell 4.4 percent and Sandisk 12.6 percent.

The broad S&P 500 index fell 0.8 percent, the tech-heavy Nasdaq Composite Index lost 1.6 percent while the Dow Jones Industrial Average fell 0.3 percent.

Loading related articles...

Tags

Author

TT News AgencyT
By TT News AgencyEnglish edition by Sweden Herald, adapted for our readers

Keep reading

Loading related posts...